The invention discloses a high performance plastic magnetic material, comprising a low surface energy layer, a magnetic layer and a printable layer, wherein the magnetic layer and the printable layer are arranged successively on a first side of the low surface energy layer; the low surface energy layer is an organic silicon pressure sensitive adhesive layer. The invention further discloses a preparation method, comprising the following steps: pretreating a magnetic powder with a coupling agent; mixing the pretreated magnetic powder with matrix components and auxiliaries to gain a mixture; extrusion compositing the gained mixture with a printable layer to gain composite paper having the printable layer and a magnetic layer; and applying a low surface energy layer on a side of the magnetic layer, opposite the printable layer. As no UV layer and no adhesive residue, the material of the invention is environmentally friendly and highly reliable.